WISE Review: Insurance

Your spouse suddenly dies and has no life insurance. The financial consequence for your family

The purpose of Insurance is NOT to

You receive expensive jewelry and have homeowners insurance; what should you tell your Insurance Agent

You take out a 50,000 life insurance policy. The 50,000 amount of coverage is called the

Generally, the higher the deductible on an insurance policy, the

Lucy has no insurance. the situation(s)should she consider insuring against first are

A person buys a flat screen TV & has homeowners insurance. Personal Floater insurance should be brought

Mr. G's wife died. The money received as a beneficiary on her life insurance is called

Risk Assumption means that you do not assume the liability

Self-Employed person decides to buy disability insurance it is generally to

After 5 years you have a $20,000 whole life insurance with cash value clause; surrender you get

Risk Shifting is using Insurance to offset your liability

The insurance company will pay for a loss minus your

Car policy ends on 5/12 at midnight. On 5/13 @ 10 AM, you change companies you have an accident who is liable?

Insurance is frequently described as a method of "sharing the risk" because the

Before an insurance company will pay for a loss, you must first file a

You have a $2,000 lose. Insurance pays you $1,500 for the loss. The other $500 is

Term life insurance

A _____________ ensures that your insuranace is not canceled.

A person buys a homeowner's policy with a $250 deductible, which means the person will